Tuesday, August 26, 2003

Yeah, this is a start, but nowhere fucking near what we need to prevent more Enrons and WorldComs. Why don't we start by taking a good, hard look at the accounting profession? As Arianna Huffington repeatedly points out in her book Pigs at the Trough, the same firm that does accounting work for a company can also do consulting work for that company. I'm sure that the implied conflict of interest is imaginary, and the consulting and accounting wings never work together to bolster the full company's bottom line.

Also, Michael Capellas has no business talking about "public trust." This is the man who let the company he was CEO of at the time, Compaq, get bought out by Hewlett-Packard. Don't let the papers fool you, this was a buyout and not a merger. Not long after the companies merged, Capellas left for, as we know, WorldCom. I have never worked for Compaq, so maybe it's just me, but I would have felt shit on if I were those former Compaq employees when Crapellas abandoned them. He was at least a face for their side, and a counterpart to Fuhrer Fiorina, HP's CEO. Once he left, that was shot to shit, and they were on their own. If they didn't get laid off, of course.